Multinational engineering and advanced manufacturing company Arconic has secured an approximately $1bn multi-year contract with global aircraft manufacturing company Airbus.

Arconic chairman and CEO Klaus Kleinfeld said: “This large contract is a further important step to expand our leadership position in the aerospace industry.

“We are proud that Airbus has chosen us to support their fastest growing, technologically advanced programmes.

"Partnerships like this with industry leaders are core to our strategy and this contract is another proof point of the potential that lies in it.

"This large contract is a further important step to expand our leadership position in the aerospace industry."

“We continue to focus on developing products and technologies that take all of our aerospace customers to new heights.”

The multi-year agreement will begin in January next year and as part of the contract, Arconic will be the only supplier to Airbus for specific applications, including some wing, fuselage and structural components.

Arconic will supplying its thick plate stretcher in Davenport, Iowa, which is used to enhance the performance of thick aluminium and aluminium-lithium plate in wing ribs and fuselage frames material.

Additionally, Airbus planes will feature Arconic plate products on every platform, used in key applications such as wing ribs, fuselage frames and other structural parts of the aircraft.

Image: Arconic secures contract from Airbus. Photo: courtesy of Business Wire.